Metaverse eCommerce - Eastern Europe

The Metaverse eCommerce market in Eastern Europe is projected to reach a value of US$389.5m by 2024.
This market is expected to experience an annual growth rate of 47.95% from 2024 to 2030, resulting in a projected market volume of US$4.1bn by 2030.
China dominates the Metaverse eCommerce market, with a projected market volume of US$10.2bn in 2024.
In terms of user base, the number of users in Eastern Europe's Metaverse eCommerce market is expected to reach 30.8m users by 2030.
The user penetration rate is projected to increase from 4.2% in 2024 to 15.5% by 2030.
The average value per user (ARPU) is anticipated to be US$46.4 in Eastern Europe's Metaverse eCommerce market.
In Eastern Europe, the Metaverse eCommerce market is experiencing rapid growth, with countries like Poland and Ukraine emerging as key players in the virtual shopping landscape.

Definition:

The eCommerce market refers to the buying and selling of goods and services within virtual reality environments, such as virtual worlds, social VR platforms, and other immersive digital spaces. These can include virtual storefronts, digital marketplaces, and other online shopping experiences that allow users to purchase real-world products or virtual items using virtual currencies and/or real-world money. Metaverse eCommerce can also include virtual shopping experiences, where users can explore and interact with virtual stores, try on virtual clothing and accessories, and make purchases through virtual cash or real-world money.

Structure:

The eCommerce market also covers the markets Beauty, Health, Personal & Household Care, Toys, Hobbys, DIY & Media, Furniture, Electronics, Fashion, and Food & Beverages. All of them refer to the specific goods that can be bought in the metaverse.

Additional Notes:

The market comprises market sizes, users, average revenue per user, and penetration rates. Market sizes are generated through in-app purchases and consumer spending on items, products, and hardware such as headsets and glasses. Market numbers for eCommerce are also featured in the Digital Market Insights. Key players in the market include companies, such as IKEA, Virtual Realms, and Holition. For more information on the data displayed, use the info button right next to the boxes.

Marketplaces in the metaverse, such as Decentraland's Marketplace
Items bought for avatars used in the metaverse, such as Costumes or Skins
Fashion for avatars, such as Gucci stores
Electronics, such as AR and VR hardware

Physical items used for the metaverse, such as Oculus Quest
Purchase of games that are considered metaverse, such as Roblox or Sandbox

The Metaverse eCommerce market in Eastern Europe is experiencing significant growth and development, driven by changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in Eastern Europe are shifting towards online shopping and virtual experiences, which is fueling the growth of the Metaverse eCommerce market.

Consumers are increasingly seeking convenience, variety, and personalized experiences, and the Metaverse offers a unique platform to fulfill these preferences. With the ability to explore virtual stores, interact with products, and make purchases from the comfort of their own homes, customers are embracing the Metaverse as a new way to shop. Trends in the market are also contributing to the development of the Metaverse eCommerce market in Eastern Europe.

One notable trend is the rise of virtual marketplaces and social shopping experiences. These platforms provide a virtual environment where users can browse and purchase products, as well as interact with other shoppers and sellers. This trend is particularly appealing to younger generations who are digitally savvy and seek immersive and social shopping experiences.

Local special circumstances in Eastern Europe, such as a growing tech-savvy population and increasing internet penetration, are further driving the growth of the Metaverse eCommerce market. The region has seen a rapid increase in smartphone adoption and internet connectivity, enabling more people to access and engage with the Metaverse. Additionally, Eastern Europe has a strong gaming culture, which has paved the way for the acceptance and adoption of virtual experiences and online shopping within the Metaverse.

Underlying macroeconomic factors, such as the COVID-19 pandemic and the need for social distancing measures, have accelerated the development of the Metaverse eCommerce market in Eastern Europe. The pandemic has forced businesses to adapt to new ways of operating, and the Metaverse offers a solution for retailers to reach customers and generate sales in a contactless and virtual environment. As a result, companies are investing in virtual storefronts and digital marketing strategies to capitalize on the growing demand for online shopping experiences.

In conclusion, the Metaverse eCommerce market in Eastern Europe is experiencing rapid growth and development due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. As more consumers embrace online shopping and virtual experiences, businesses in the region are adapting to meet these preferences and capitalize on the opportunities presented by the Metaverse.

Data coverage:

Figures are based on in-app spending, consumer spending, in-game spending, app downloads, and investment and funding data.

Modeling approach / Market size:

Market sizes are determined by a top-down approach, based on a specific rationale for each market market. As a basis for evaluating markets, we use reports, third-party studies, and research companies. Next we use relevant key market indicators and data from country-specific associations such as GDP, consumer spending, and internet penetration rates. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, the S-curve function and exponential trend smoothing are well suited to forecast digital products and services due to the non-linear growth of technology adoption. The main drivers are consumer spending per capita, level of digitalization, and cloud revenues.

Additional Notes:

The market is updated twice per year in case market dynamics change. Consumer Insights data is unbiased for representativeness.

This report presents a comprehensive analysis and additional information on the Advertising & Media market, in a PDF format.

Before Mark Zuckerberg announced Facebook’s name change to Meta to the surprise and sniggers of social media users, the metaverse was a niche and futuristic concept familiar to the tech and science-fiction aficionados. Yet now, it has become the catchphrase that sets the scene for the next stage of the internet. Facebook’s rebranding of Meta as one of the building blocks of the metaverse was powerful enough to trigger immediate response from the world’s biggest retail and consumer brands. In the week following Zuckerberg’s Meta presentation, Nike made patent applications for a number of its logos and slogans, and in December 2021 acquired the virtual sneakers company RTFKT. Nike is one of the growing number of retail brands that are silently preparing their launch into the metaverse where fashion is flaunted not as physical goods but as virtual assets. According to a study, Nike applied for 12 IoT patents in the three months running up to May 2022.